RSM100Y1 Chapter Notes - Chapter 9: Employee Stock Ownership Plan, Toronto Stock Exchange, Virtual Team
Document Summary
Chapter 9 - top performance through empowerment, teamwork, and. Empowerment: giving employees shared authority, responsibility, and decision making with their managers. Uses brainpower of all workers to find better ways of doing their jobs. Motivates workers by adding challenges to their jobs. Managers empower employees by sharing company information & decision-making authority. Research suggests that companies should provide key financial info to employees. How their own work fits into the plan. Give broad authority to make decisions that carry out a firm"s vision. Purchasing supplies, making hiring decisions, scheduling production hours, overseeing safety program. 7% of canadians participate in employee stock ownership plans (esops) Lead to profits when the value of firms increase. Employers buy shares of the company stock on behalf of the employee as a retirement benefit. About 60% of surveyed companies that offer esops report an increase in employee productivity. Productivity measured by revenue per employee 24% higher.
